Remember when you were growing up and a favorite aunt regularly gave you a savings bond for your college education? Or maybe you received a savings bond as a school prize for winning a debate or an essay contest. Savings bonds were a good investment a few years back. They still are, even though it is easy to lose sight of their tried and true benefits in the current economy, where almost everyone seems to be investing in the stock market--either through a broker, via their mutual funds or 401(k) plans, or online.

Let's start with the most fundamental question: What exactly is a savings bond?